Suspended stocks on SGX hit highest level in three years

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SINCE last November, five more companies have made their way into the Singapore Exchange's most unloved list of stocks - that is, those suspended from trading for 12 months or longer. Read more at The Business Times.

Since last November, five more companies have made their way into the Singapore Exchange's most unloved list of stocks - that is, those suspended from trading for 12 months or longer.SINCE last November, five more companies have made their way into the Singapore Exchange's most unloved list of stocks - that is, those suspended from trading for 12 months or longer.

Like their peers, many of whom have been stuck in suspension for well over two years, these companies ultimately face one of three fates: Many on the list are businesses hit by the oil-and-gas slump, such as Swiber Holdings, Ezra Holdings, Linc Energy and Pacific Radiance. National University of Singapore associate professor and governance hawk Mak Yuen Teen said:"There are 41 of them, which is more than 5 per cent of all issuers."

Among the current suspended batch, 22 companies are exploring trading resumption, said SGX. This"exploration" could take a while, given that more than half of these trading hopefuls were already on the list SGX released at its last update in November 2018. The SGX appears relatively more forgiving of such troubled companies. The Hong Kong Stock Exchange, for example, gives suspended companies up to 18 months to sort out their issues, on pain of a delisting.

 

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